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QUICK PLEASE. A person invest $2000 at 4.5% simple interest for two years. make sure to show all your work.
a) What would the interest earned be after two years?
b) What would the total amount be after two years?

Respuesta :

MrRoyal

The total amount after 2 years is $2180

How to determine the interest?

The given parameters are:

Principal, P =$2000

Rate, r =4.5%

The interest in 2 years is calculated as:

I = PRT

So, we have:

I = 2000 * 4.5% * 2

Evaluate

I = 180

Hence, the interest after 2 years is $180

How to determine the total amount?

This is calculated as:

Amount = P + I

So, we have:

Amount = $2000 + $180

Evaluate

Amount = $2180

Hence, the total amount after 2 years is $2180

Read more about simple interest at:

https://brainly.com/question/25845758

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